{"id":111968,"date":"2026-06-10T10:59:53","date_gmt":"2026-06-10T05:29:53","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=111968"},"modified":"2026-06-10T10:59:54","modified_gmt":"2026-06-10T05:29:54","slug":"susan-electricals-india-ipo-review","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/susan-electricals-india-ipo-review\/","title":{"rendered":"Susan Electricals India IPO Review: Price Band Rs 120-127, GMP Rs 18, Rs 70.38 Crore Issue \u2014 Should You Apply?"},"content":{"rendered":"<div class=\"meta-block\"><\/div>\n<p style=\"border-left: 4px solid #1F4E79; background: #EBF3FB; padding: 10px 16px; font-style: italic;\"><em>Susan Electricals IPO: Opens Jun 11-15. Price Rs 120-127. GMP Rs 18 (+14.17% listing est). Revenue FY25 Rs 136 Cr (+31%). PAT FY25 Rs 5.65 Cr (+643%). BSE SME listing Jun 18. DISCOM-dependent winding wire maker. 3 factories in Ghaziabad.<\/em><\/p>\n<p>The <strong>Susan Electricals IPO<\/strong> opens for subscription tomorrow, June 11, 2026, offering investors access to this Ghaziabad-based manufacturer of aluminium and copper-based electrical winding wires and power cables. Priced at Rs 120-127 per share, the <strong>Susan Electricals India IPO<\/strong> is a Rs 70.38 crore BSE SME issue with a grey market premium of Rs 18, implying a potential listing gain of 14.17%. This <strong>Susan Electricals IPO<\/strong> review analyses the business, financials, valuation, and investment case ahead of the opening tomorrow.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&amp;utm_medium=susan-electricals-ipo\"><strong>Click Here &#8211; Get Free Stock Research From Univest<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/susan-electricals-india-ipo-review\/#About_Susan_Electricals_India_Limited\" title=\"About Susan Electricals India Limited\">About Susan Electricals India Limited<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/susan-electricals-india-ipo-review\/#Susan_Electricals_IPO_Financials_Strong_Growth_Margin_Surge\" title=\"Susan Electricals IPO Financials: Strong Growth, Margin Surge\">Susan Electricals IPO Financials: Strong Growth, Margin Surge<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/susan-electricals-india-ipo-review\/#Power_Sector_Tailwinds_Support_Susan_Electricals_IPO\" title=\"Power Sector Tailwinds Support Susan Electricals IPO\">Power Sector Tailwinds Support Susan Electricals IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/susan-electricals-india-ipo-review\/#Key_Risks_for_the_Susan_Electricals_IPO\" title=\"Key Risks for the Susan Electricals IPO\">Key Risks for the Susan Electricals IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/susan-electricals-india-ipo-review\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/susan-electricals-india-ipo-review\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/susan-electricals-india-ipo-review\/#What_is_the_Susan_Electricals_India_IPO_price_band\" title=\"What is the Susan Electricals India IPO price band?\">What is the Susan Electricals India IPO price band?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/susan-electricals-india-ipo-review\/#When_does_the_Susan_Electricals_India_IPO_open\" title=\"When does the Susan Electricals India IPO open?\">When does the Susan Electricals India IPO open?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/susan-electricals-india-ipo-review\/#What_is_the_Susan_Electricals_IPO_GMP_today\" title=\"What is the Susan Electricals IPO GMP today?\">What is the Susan Electricals IPO GMP today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/susan-electricals-india-ipo-review\/#What_does_Susan_Electricals_India_do\" title=\"What does Susan Electricals India do?\">What does Susan Electricals India do?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/susan-electricals-india-ipo-review\/#Should_I_apply_for_the_Susan_Electricals_India_IPO\" title=\"Should I apply for the Susan Electricals India IPO?\">Should I apply for the Susan Electricals India IPO?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"About_Susan_Electricals_India_Limited\"><\/span><strong>About Susan Electricals India Limited<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Susan Electricals India Limited was incorporated in 2007 and operates three manufacturing facilities in Ghaziabad, Uttar Pradesh. The company manufactures aluminium and copper-based electrical winding wires, strips, stranded conductors, and power cables used in transformers, motors, alternators, power distribution networks, and industrial electrical projects. It also derives incremental revenue from trading of aluminium rods and wires (38.8% of 9M FY26 revenue). The business is primarily B2G and B2B, with significant dependence on state-owned electricity distribution utilities (DISCOMs) and EPC contractors.<\/p>\n<table style=\"width: 100%; border-collapse: collapse; font-size: 14px;\">\n<thead>\n<tr>\n<th style=\"border: 1px solid #000; padding: 7px 9px; background: #000; color: #fff; text-align: left;\">Parameter<\/th>\n<th style=\"border: 1px solid #000; padding: 7px 9px; background: #000; color: #fff; text-align: left;\">Details<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">IPO Type<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">SME Book Build Issue<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Exchange<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">BSE SME<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Issue Size<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 70.38 crore (Fresh Rs 60.22 Cr + OFS Rs 10.16 Cr)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Price Band<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 120-127 per share<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Face Value<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 10 per share<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Lot Size<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">2,000 shares<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Retail Min. Investment<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 2,54,000 (2,000 shares at Rs 127)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Open Date<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">June 11, 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Close Date<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">June 15, 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Allotment Date<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">June 16, 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Listing Date<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">June 18, 2026 (BSE SME)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">GMP (Jun 9-10, 2026)<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 18 \u2192 expected listing Rs 145 (+14.17%)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Registrar<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Purva Sharegistry (India) Pvt. Ltd.<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">BRLM<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Seren Capital Pvt. Ltd.<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Revenue FY24<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 103.59 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Revenue FY25<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 136.05 crore (+31.3%)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">PAT FY24<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 0.76 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">PAT FY25<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 5.65 crore (+643% YoY)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Employees<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">193 (as of Jan 31, 2026)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Promoters<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Vishal Jain, Mahak Jain<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Business<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Aluminium\/copper winding wires, conductors, power cables + aluminium trading<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Key Customers<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">DISCOMs, EPC contractors, electrical equipment manufacturers<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Peer P\/E<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Prime Cable 14.7x | Divine Power 46.3x | V-Marc India 35.0x<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div style=\"background: #E8EAFF; border-radius: 14px; padding: 24px 28px 20px; margin: 24px 0; cursor: pointer;\">\n<p style=\"font-size: 19px; font-weight: bold; color: #0a0a23; margin: 0 0 8px;\">Get IPO Research and Daily Market Picks From Univest<\/p>\n<p style=\"font-size: 15px; color: #3a3a5c; margin: 0 0 10px;\">Univest tracks every BSE SME and mainboard IPO with GMP, subscription, and post-listing research.<\/p>\n<ul style=\"margin: 0 0 14px 20px; color: #3a3a5c; font-size: 15px; line-height: 1.8;\">\n<li>Live IPO GMP and subscription data<\/li>\n<li>Post-listing analysis and price targets<\/li>\n<li>Daily stock picks and expert research<\/li>\n<\/ul>\n<p style=\"font-size: 15px; color: #3a3a5c; margin: 0 0 16px;\">Unlock the latest <a style=\"color: #3b7fff; font-weight: bold;\" href=\"https:\/\/univest.in\/user\/payment?planType=ALL_PRO%20PLANS\">Top Stock Picks<\/a> on Univest<\/p>\n<p><a style=\"display: inline-block; background: #3B7FFF; color: #fff; font-size: 14px; font-weight: 600; padding: 11px 24px; border-radius: 50px; text-decoration: none;\" href=\"https:\/\/univest.in\/user\/payment?planType=ALL_PRO%20PLANS\" target=\"_blank\" rel=\"noopener\">See the Stocks \u2192<\/a><\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Susan_Electricals_IPO_Financials_Strong_Growth_Margin_Surge\"><\/span><strong>Susan Electricals IPO Financials: Strong Growth, Margin Surge<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Susan Electricals IPO<\/strong> financials show rapid growth in both revenue and profitability. Revenue grew 31.3% from Rs 103.59 crore in FY24 to Rs 136.05 crore in FY25. More strikingly, PAT surged from a near-negligible Rs 0.76 crore in FY24 to Rs 5.65 crore in FY25, a 643% increase, driven by improved product mix, operating leverage, and margin recovery. However, analysts at IPOWatch have flagged that the margins outperform listed peers, raising questions about sustainability. The company has issued equity shares in the price range of Rs 125-417 between March 2019 and May 2026, and issued a bonus of 9:1 in August 2025, which has significantly diluted the per-share cost base.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Power_Sector_Tailwinds_Support_Susan_Electricals_IPO\"><\/span><strong>Power Sector Tailwinds Support Susan Electricals IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Susan Electricals India IPO<\/strong> benefits from India&#8217;s massive investment in power transmission and distribution (T&amp;D) infrastructure. The government&#8217;s Revamped Distribution Sector Scheme (RDSS) and PM Surya Ghar free electricity scheme are driving sustained demand for winding wires, conductors, and power cables. With capacity expansion planned using IPO proceeds, Susan Electricals is positioning itself to capture a larger share of DISCOM procurement. Peer V-Marc India trades at PE 35x, suggesting the <strong>Susan Electricals IPO<\/strong> may be attractively valued relative to the sector.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Track Susan Electricals IPO Subscription and GMP on the Univest Screener<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Risks_for_the_Susan_Electricals_IPO\"><\/span><strong>Key Risks for the Susan Electricals IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Susan Electricals IPO<\/strong> carries risks that investors must assess. High DISCOM dependence means revenue is vulnerable to payment delays from state utilities, a common issue in the Indian power distribution ecosystem. The trading component (38.8% of 9M FY26 revenue from aluminium rods\/wires) is lower-margin and less defensible than manufacturing. IPOWatch noted that outperforming margins vs listed peers raises sustainability concerns. This is the 8th mandate from BRLM Seren Capital; out of 7 prior listings, 1 was at par and the rest at premiums of 17-48.73%, a track record investors should note.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Susan Electricals India IPO<\/strong> offers a play on India&#8217;s T&amp;D infrastructure expansion at Rs 120-127 per share on BSE SME. GMP of Rs 18 suggests a listing price of approximately Rs 145 (+14.17%). The 643% PAT growth in FY25 is compelling, but DISCOM dependence and margin sustainability are key risks. Chanakya Nipothi recommends &#8220;Subscribe for Listing Gain and Medium-Term Investment.&#8221; Consult a SEBI-registered advisor before applying to the Susan Electricals IPO.<\/p>\n<p style=\"margin-top: 24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Susan Electricals IPO subscription, GMP and allotment on Univest.<\/em><\/p>\n<div style=\"background: #CC0000; border-radius: 8px; padding: 16px 20px; margin: 24px 0;\">\n<p style=\"color: #ffffff; font-size: 13px; line-height: 1.7; margin: 0;\"><strong style=\"color: #ffffff;\">Disclaimer:<\/strong> Data sourced from publicly available information. Verify all data with official NSE\/BSE\/MCX\/SEBI before investing. IPO GMP is unofficial and unregulated by SEBI. Investments are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Susan_Electricals_India_IPO_price_band\"><\/span><strong>What is the Susan Electricals India IPO price band?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Susan Electricals India IPO price band is Rs 120 to Rs 127 per share. The minimum lot size is 2,000 shares. Retail investors must apply for a minimum of 2,000 shares (1 lot), requiring an investment of Rs 2,54,000 at the upper price band of Rs 127.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"When_does_the_Susan_Electricals_India_IPO_open\"><\/span><strong>When does the Susan Electricals India IPO open?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Susan Electricals India IPO opens on June 11, 2026, and closes on June 15, 2026. Allotment is expected on June 16. Shares will be credited on June 17, with listing on BSE SME on June 18, 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Susan_Electricals_IPO_GMP_today\"><\/span><strong>What is the Susan Electricals IPO GMP today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Susan Electricals IPO GMP is Rs 18 per share as of June 9-10, 2026. Based on this GMP, the expected listing price is approximately Rs 145, representing a potential listing gain of 14.17% over the issue price of Rs 127. GMP is unofficial and unregulated by SEBI.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_does_Susan_Electricals_India_do\"><\/span><strong>What does Susan Electricals India do?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Susan Electricals India Limited, incorporated in 2007 and headquartered in Ghaziabad, Uttar Pradesh, manufactures aluminium and copper-based electrical winding wires, conductors, and power cables. The company&#8217;s products are used in transformers, motors, alternators, coils, and power distribution networks. It also trades in aluminium rods and wires (38.8% of 9M FY26 revenue). The company primarily serves DISCOMs, EPC contractors, and electrical equipment manufacturers.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Should_I_apply_for_the_Susan_Electricals_India_IPO\"><\/span><strong>Should I apply for the Susan Electricals India IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Susan Electricals India shows strong financial growth \u2014 revenue grew 31.3% from Rs 103.59 crore in FY24 to Rs 136.05 crore in FY25, and PAT surged 643% from Rs 0.76 crore to Rs 5.65 crore. The power sector tailwinds from India&#8217;s T&amp;D infrastructure expansion support the business case. Analyst firm Chanakya Nipothi assigned a &#8216;Subscribe for Listing Gain and Medium-Term Investment&#8217; rating. However, the DISCOM dependence, outperforming margins versus peers, and trading revenue mix are risks. At Rs 127, P\/E is moderate for the sector. GMP of Rs 18 suggests decent listing potential. This is not investment advice.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the Susan Electricals India IPO price band?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Susan Electricals India IPO price band is Rs 120 to Rs 127 per share. The minimum lot size is 2,000 shares. Retail investors must apply for a minimum of 2,000 shares (1 lot), requiring an investment of Rs 2,54,000 at the upper price band of Rs 127.\"}},{\"@type\":\"Question\",\"name\":\"When does the Susan Electricals India IPO open?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Susan Electricals India IPO opens on June 11, 2026, and closes on June 15, 2026. Allotment is expected on June 16. 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The company primarily serves DISCOMs, EPC contractors, and electrical equipment manufacturers.\"}},{\"@type\":\"Question\",\"name\":\"Should I apply for the Susan Electricals India IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Susan Electricals India shows strong financial growth \\u2014 revenue grew 31.3% from Rs 103.59 crore in FY24 to Rs 136.05 crore in FY25, and PAT surged 643% from Rs 0.76 crore to Rs 5.65 crore. The power sector tailwinds from India's T&D infrastructure expansion support the business case. Analyst firm Chanakya Nipothi assigned a 'Subscribe for Listing Gain and Medium-Term Investment' rating. However, the DISCOM dependence, outperforming margins versus peers, and trading revenue mix are risks. At Rs 127, P\/E is moderate for the sector. GMP of Rs 18 suggests decent listing potential. This is not investment advice.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Susan Electricals India IPO review: Opens June 11 at Rs 120-127. GMP Rs 18, estimated listing Rs 145 (+14.17%). Revenue FY25 Rs 136 Cr. BSE SME listing June 18. Full analysis.<\/p>\n","protected":false},"author":34,"featured_media":112048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1281],"tags":[4252],"class_list":["post-111968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","tag-ipo-review"],"metadata":{"rank_math_internal_links_processed":["1"],"_edit_lock":["1781069454:23"],"_last_editor_used_jetpack":["block-editor"],"rank_math_primary_category":["1281"],"rank_math_seo_score":["79"],"rank_math_title":["Susan Electricals India IPO Review: GMP Rs 18, Should You Apply?"],"rank_math_description":["Susan Electricals India IPO review: Price band Rs 120-127, GMP Rs 18, listing June 18 on BSE SME. Winding wire maker. Revenue Rs 136 Cr. DISCOM exposure. 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